Tag Archives: shilling

Nairobi, Kenya | Xinhua | Kenya’s foreign exchange reserves declined 9.42 billion shillings (about 70 million U.S. dollars) this week, piling pressure on the shilling that similarly fell to a new low, the Central Bank of Kenya said in its update of the financial markets released Friday evening. The reserves stood at 6.38 …

Nairobi, Kenya | Xinhua | The Kenyan shilling hit the lowest level ever against the U.S. dollar this week as the East African nation grapples with a dollar shortage crisis, the Central Bank of Kenya said in its update of the financial markets released Friday. The shilling traded at an average of …

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling ended the year 2022 on a strong not having appreciated against the US dollar over the previous few months. According to the Ministry of Finance, Planning and Economic Development, the Ugandan shilling appreciated by 1.9 percent in December against the US Dollar, …

Nairobi, Kenya | Xinhua | Kenya has moved to diversify the currency composition of its external debt to curb its faster expansion as the local currency, the shilling, fast loses ground against major international currencies, according to the National Treasury. The shilling has declined nearly 8 percent against the dollar year-to-date, …

Kampala, Uganda | THE INDEPENDENT | Credit in shillings to the private sector has grown significantly from about four percent to 18.5 percent in 2018, according to the Bank of Uganda. The executive director research and policy Adam Mugume says people are borrowing more shilling-denominated loans than dollar-denominated ones because of …

Kampala, Uganda | THE INDEPENDENT | The Uganda Shilling has strengthened against the dollar and other currencies as the festive season sets in. The Shilling has been trading in the range of 3,650/90 throughout the week, a marked gain compared to previous weeks. Money market watchers attribute the strengthening of the …

Kampala, Uganda| CSBAG|  Every time a government official comes out to explain why the economy is poorly performing, they cite external and natural factors. These range from slow growth in China, to fall in commodity prices, tight financing conditions in Europe, and geo-political events such as Brexit and U.S politics. …

Food prices remain high as service companies offer cuts The end of year festive season is coming during tough times and businesses need to devise new ways of reaching out to old customers and attracting news ones, according to Charles Ocici, the executive director of Enterprise Uganda, a UNDP sponsored …

The first week of October has not been smooth sailing for the Uganda shilling.  By close of the trading week that ended Oct. 07, the local currency had run down from Shs 3,385/3,395 on Sept.30 to Shs 3,405/3,415 to the US dollar, representing a loss of Shs 20. This is …

By Patrick Kagenda A look at the underlying problem On July 13, the Monetary Policy Committee of the Central Bank met to craft an appropriate response to shocks in the economy presented by the whipping the shilling has suffered in recent months. At that point, the local currency had shade …